Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving The Small Business Relief Program In The Amount Of $479,816.76 Utilizing Community Development Block Grant Coronavirus Relief Funds Awarded To The City Of Hollywood.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
This Resolution recommends the approval of the City’s Small Business Relief Program Plan which will provide up to $20,000.00 in grant funding for eligible expenses which include rent/mortgage, utilities, and/or payroll assistance to support substantially impacted small businesses to help stabilize and grow Hollywood’s economy. The City will utilize the remaining CDBG-CV1 balance of $249,816.76 and the $230,000.00 CDBG-CV3 allocation for the creation of the Small Business Relief Program that will provide financial relief to those Hollywood small businesses impacted by COVID-19, in accordance with the U.S. Department of Housing and Urban Development (“HUD”) National Objectives and Eligible Activities.
Fiscal Impact:
Funding for this program is available in the FY 2021 Operating Budget account numbers 111.160101.55400.584270.001220.000.000 and 111.160101.55400.584500.001409.000.000.
Recommended for inclusion on the agenda by:
Raelin Storey, Director, Communications, Marketing and Economic Development
Gus Zambrano, AICP, ACM, Sustainable Development
Shiv Newaldass, Director, Development Services